How to Send Money to France from Canada?

Here’s why sending money from Canada to France using a currency exchange specialist is the best option: Fast payments, great exchange rates, low transfer fees, and voila!

When sending money to France, using banks often means accepting unfavourable exchange rates. If you want to avoid sky-high transfer costs that rival the Eiffel Tower, it’s best to look for more favourable options. This is particularly crucial for businesses with suppliers or vendors in France.

The frequency of your transactions to France directly impacts potential savings through securing advantageous exchange rates. While many Canadians traditionally resorted to banks for such transfers, opting for foreign exchange and payment solutions providers have emerged as a preferred mode. Read further to learn how you can save money when sending money to France.

How to transfer money from Canada to France?

The two most common approaches for sending money from Canada to France include an online money transfer service or relying on a traditional bank. If you are looking for a quick and easy way to transfer funds, then an online money transfer service may be the best option. However, if you prefer the conventional approach and do not need your funds immediately, then it may be best to use your bank or pre-paid card instead. You will then need the recipient’s bank details and contact information when using an online money transfer service or bank.

Once all of the required information has been provided, initiate the transfer and wait for it to be completed. Once you've initiated the transfer, monitoring its progress to confirm its arrival in the destination country is essential.

What is the best way to send money to France? 

If you’re looking for a cost-effective, secure, and fast way to send money to France from Canada, your best bet is to use a foreign exchange and currency conversion specialist. Traditionally, many people have relied on banks for these services, but innovative alternatives are now available at a lower cost.

For instance, with MTFX, you typically get rates that are 3–5% lower. So, for every CAD 10,000  you send to France, you can save up to $500, which adds up to $ 5,000 for every $100,000. 

Keep in mind that bypassing traditional banks eliminates the need to pay high transfer fees or additional bank charges, allowing your business to retain more funds.

To seal the deal, transferring funds can be completed in as little as 24 or 48 hours, providing you with significant time savings compared to banks, which frequently take five working days or longer to process transfers.

What is a good EUR/CAD exchange rate for sending money?

In 2002, France transitioned from the French Franc to the Euro as its official currency. Today, the Euro stands as the second-most traded currency globally. When transferring funds to a French recipient, optimizing currency conversion can significantly enhance your return on investment.

Given the fluctuating nature of the Canadian dollar and the Euro, staying informed about the current EUR/CAD trend is crucial.  A real-time chart can help you identify the most advantageous exchange rate, allowing you to preserve more of your funds amid market fluctuations.

Use the live EUR to CAD exchange rate chart below to track trends and compare recent performance. This visual tool helps you make smarter timing decisions when sending money internationally. Scroll through the chart to see rate fluctuations over different time frames—daily, weekly, monthly, or yearly—to better understand market movements.

While banks may offer convenience, they often provide less favourable EUR/CAD rates and impose substantial transfer fees, sometimes reaching as high as CAD 150.00 per transaction. These fees can quickly add up, particularly with frequent transfers. In contrast, at MTFX, we prioritize personalized service and strong client relationships. Our commitment lies in delivering competitive exchange rates and minimal transfer fees, empowering our clients to optimize the value of their international transactions.

Who can use MTFX to send money to France?

Companies and individuals can both use MTFX to transfer money to France.

Individuals

• Send money to family, friends, or yourself in France
• Pay for studies in France
• Transfer money for investment purposes
• Send money when moving to France

Companies

• Make supplier payments
• Import goods or services
• Make other business investments

What bank details are needed to transfer money to France?

If you're looking to send money from Canada to France, here's what you need to know:

• Beneficiary's name
• Beneficiary's address
• Beneficiary's account number
• Bank's name
• Bank's Swift code
• Bank's address
• Reason(s) for transfer

Can I set up a regular money transfer to France?

Once your business account is set up with MTFX, you can get the quote by converting CAD to EUR and easily schedule money transfers to France. Our platform utilizes cutting-edge automation technology to streamline your payments, offering accessibility from anywhere, at any time, all while ensuring secure and swift transaction processing.

How to transfer money to a French bank account online? 

The first step is registering a secure online business account on the MTFX platform. Once you log in, you can send money to a France Bank account with just a few clicks, anywhere and anytime in Canada.

Managing your overseas payments has never been easier with MTFX automation technologies that enable hands-free transfers.

Send money to France today with MTFX

Whether sending money to France is an everyday affair or a once-off deal, you can still save money with MTFX. Overall, you can expect:

• Quick transfers: Fast turnaround and automated Euro transfers to various French beneficiaries.
• Comprehensive assistance: You can get expert guidance from an account manager and access a wide range of FX tools, such as the MTFX rate currency alert. 
• Secure platform: The MTFX online platform is highly secure and available 24/7 for your convenience.

Register with MTFX today to create a secure online business account and start sending money to France.

 FAQs

1. What is the current exchange rate for CAD to EUR?

The exchange rate for CAD to EUR fluctuates due to market conditions. MTFX provides live exchange rates so you can check the current rate before making your transfer. This ensures you get the best value when you send money to France.

2. How does the CAD to EUR exchange rate affect my transfer to France?

The exchange rate between the Canadian Dollar (CAD) and the Euro (EUR) determines how much your recipient will receive in France. A higher CAD to EUR rate means a greater amount of Euros for your transfer, making it more cost-effective when you send money to France. 

3. What is the best way to monitor the CAD to EUR exchange rate?

You can monitor the CAD to EUR exchange rate using MTFX’s live rate tool, which gives real-time updates. Setting up rate alerts allows you to be notified when the rate is favourable for your transfer, helping you save money when you send money to France. 

4. What factors influence the CAD to EUR exchange rate?

Several factors influence the CAD to EUR exchange rate, including economic reports, interest rate decisions from central banks, and geopolitical events. Fluctuations in oil prices and market sentiment also play a significant role in shaping the exchange rate when you send money to France.

5. How can I lock in the CAD to EUR exchange rate for a future transfer?

MTFX allow you to lock in rates in advance, allowing you to lock in the CAD to EUR exchange rate for future transfers. This can be useful if you're planning to send money to France at a later date and want to avoid unfavourable fluctuations. 

6. How do exchange rates change daily for CAD to EUR?

Exchange rates like CAD to EUR change based on supply and demand in the market. Factors such as economic data releases, central bank announcements, and global events can cause the rate to fluctuate, affecting how much your recipient will get when you send money to France. 

7. What are the best times to exchange CAD to EUR?

The best times to exchange CAD to EUR depend on market trends and news. Generally, it's wise to monitor daily exchange rates and set up alerts to lock in a favourable rate. MTFX provides tools to help you track and compare rates when sending money to France. 

8. Can I track the historical performance of CAD to EUR exchange rates?

Yes, MTFX offers historical data, allowing you to track CAD to EUR trends over different periods. This helps you understand past market movements and plan for future transfers to France.

9. How much can I save by sending money to France with MTFX?

MTFX offers competitive exchange rates and low transfer fees compared to traditional banks. By using MTFX, you can save on both the CAD to EUR exchange rate and transfer fees when you send money to France. 

10. How long does it take for my transfer to reach France?

Transfers to France are usually processed within 24-48 hours, but in some cases, transfers may be completed on the same day. You can track your transfer in real-time using MTFX’s online platform for added peace of mind. 

Register with MTFX today to create a secure online business account and start sending money to France.